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Launched · SEC filings

Applied Finance IVS International Large ETF

IVSINasdaqApplied FinanceC

$29.05−0.70 (−2.35%)

At close: Nov 5, 2026, 4:00 PM ET

C40/ 100

Rank 36 of 56 in International Active Equity

C40/100Rank 36 of 56inInternational Active Equity
Intraday session: down, 78 prints from 29.75 to 29.05. Range 29.05 to 29.64. Use the arrow keys to read each point.29.2029.3029.4029.5029.6010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$10M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
204
Avg volume · 30D
1.32K sh
52W range
low $25.00high $30.42
Launched
Filings
SEC EDGAR

The ETF.net IVSI Grade

Based on 4 of 6 pillars

C

Score 40 out of 100

Category
International Active Equity⁠
Rank
36 of 56
Six-pillar profile for IVSI. Scores out of 100: Cost 34, Risk 64, Mission not scored, Tradability 36, Holdings not scored, Durability 30. Strongest: Risk (64). Weakest: Durability (30). Based on 4 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D34 out of 100
    Rank 37 of 56

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 16 of 56

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 40 of 56

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 51 of 56

Our read on IVSI

ETF.net Research

In short

CA December 2025 arrival: Applied Finance picking large caps in developed markets outside the US, no index to shadow. Everything here is early days, from the track record to the asset base.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  • Simple mandate, plainly stated: long-term capital appreciation from developed markets outside the US, run actively rather than tracking a declared index.
  • Standard 1940 Act stock-fund wrapper, no leverage sleeve or structural quirks flagged in the filings.
  • At 0.65% a year, the fee sits close to what actively managed international ETFs typically charge, not at a boutique premium.

Worth knowing

  • That 0.65% is roughly triple what broad systematic rivals charge (AVDE at 0.23%, DFIC at 0.22%), so the stock selection carries the whole cost gap.
  • Launched in December 2025, so there is no long record to judge and the risk picture rests on a very short history.
  • Small and thinly traded so far, which tends to mean wider spreads and more slippage between the price on screen and the basket underneath.

IVSI Holdings

Asset class
Stocks
Holdings
204
Top-10 weight
26%
Largest holding
ASML4.3%

Sectors

  • Financials21.9%
  • Industrials15.3%
  • Technology14.3%
  • Health Care13.2%
  • Consumer Discretionary9.6%
  • Consumer Staples7.9%
  • Communication7.7%
  • Materials6.3%
  • Energy2.4%
  • Utilities1.4%
  • Real Estate0.1%

Geography

  • Japan20.69%
  • United Kingdom16.41%
  • Switzerland12.79%
  • Germany8.31%
  • France8.17%
  • Netherlands7.87%
  • Australia5.73%
  • Sweden5.44%
  • Other countries (12)14.57%

Developed 100% · Emerging 0% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1ASMLAsml Holding NV4.29%274$412K201
2ROP.SWRoche Holding AG3.81%754$365K203
3BHPBhp Group Ltd Common Stock2.82%6,950$271K35
4NOVNNovartis Ag-Reg2.55%1,489$245K7
5AZNAstrazeneca PLC2.42%1,226$232K64
6DTEDeutsche Telekom Ag-Reg2.28%7,266$218K281
7No dataMitsubishi Ufj Financial Gro2.27%10,288$218K2
8No dataNovo Nordisk A/S-B1.89%4,237$182K5
9ALVAllianz SE1.73%322$166K117
10No dataBritish American Tobacco PLC1.56%2,396$150K3
11No dataRecruit Holdings Co Ltd1.46%1,267$140K2
12ORLoreal1.40%268$134K28
13No dataSumitomo Mitsui Financial Gr1.35%6,504$129K2
14No dataHsbc Holdings PLC1.33%7,231$128K3
15No dataNestle Sa-Reg1.32%1,208$127K5

Showing 1–15 of 204 holdings

IVSI Performance

Launched Dec 10, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
IVSI$11,299
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,833
Dec 31, 2025 to Nov 5, 2026. IVSI $11,299. SPY $10,833. Use the arrow keys to read each point.$10,000$11,000$12,000Dec 2025Jun 2026Nov 2026

Dec 31, 2025 – Nov 5, 2026

Returns run to the Nov 5, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IVSI. Periods over one year show the average yearly return.
PeriodIVSI
Year to date+13.0%
1 month+1.0%
3 months−2.5%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IVSI
YearReturn barIVSI
2026 YTD+13.0%
2025+2.2%

Since listing, Dec 10, 2025

IVSI in the news

IVSI Dividends

Last payment
$0.01 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.01. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.01

IVSI Risk

Risk pillarB64 out of 100Rank 16 of 56 in International Active Equity
How much the fund’s monthly returns vary, scaled to a year.
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.57
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

IVSI Cost

Compare IVSI and TACN

Overpaying vs TACN, cheapest in International Active Equity

$12,717

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IVSI 0.65%

    $12,717

  • TACN 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • IVSI 0.65%
  • TACN 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530IVSI $12,717TACN $0

Year by year

YearIVSITACNOverpaying
10$1,163$0$1,163
20$4,440$0$4,440
30$12,717$0$12,717

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